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# Toast Lifts 2026 Adjusted EBITDA Outlook To $840 Million-$850 Million As Its CFO Plans To Leave
- URL: https://www.bullished.co/toast-lifts-2026-adjusted-ebitda-outlook-to-840-million-850-million-as-its-cfo-plans-to-ac60fee1/
- Published: 2026-11-03T21:21:34.000Z
- Updated: 2026-11-03T21:21:34.000Z
- Description: Third-quarter net income rose to $169 million from $105 million, and Elena Gomez will hand the CFO job to Michael Senno on January 1, 2027.
- Author: Matteo Parrino
- Tags: Earnings, TOST, Industry: Technology

[Toast](https://www.bullished.co/tag/tost/), the cloud-based restaurant software and payments company, raised its full-year adjusted EBITDA forecast to [$840 million to $850 million](https://www.sec.gov/Archives/edgar/data/0001650164/000165016426000214/tost-20260930xexhibit991.htm?ref=bullished.co), from $805 million to $825 million, after third-quarter net income climbed to $169 million. The company said Tuesday that President and CFO Elena Gomez is stepping away at year-end, with Michael Senno taking over the finance chief's job in 2027.

## A quarter of growing profit

Net income was $169 million, against $105 million a year earlier, and diluted earnings per share rose to $0.29 from $0.16\. Operating income was $165 million, up from $84 million. Revenue was $1.98 billion, up from $1.63 billion.

Adjusted EBITDA, the company's own measure that starts from net income and adds back items such as stock pay, depreciation, interest and taxes, was $240 million versus $176 million.

The business metrics grew along with it. Annualized recurring run-rate, Toast's gauge of subscription and payment-processing fees, rose 24% to $2.5 billion. Locations rose 21% to about 189,000, with about 8,500 net additions, and payment volume rose 20% to $61.8 billion.

Free cash flow for the first nine months was $426 million, compared with $430 million a year earlier. For the third quarter alone it was $181 million, up from $153 million.

## The raised forecast

Toast now expects fourth-quarter adjusted EBITDA of $200 million to $210 million. For the full year it also expects gross profit from subscriptions and financial technology of $2,375 million to $2,385 million, which it described as 26% growth, up from a prior 23% to 25% range.

Toast sells software, payments and restaurant-grade hardware as one system, and earns its money mainly from subscriptions and financial technology. CEO Aman Narang pointed to the new Toast IQ Team labor-management product and an expanded Toast IQ Grow, which he said move the company toward "agents that take on the work for them."

## Gomez out, Senno in

Gomez told the company on October 28 that she would step away effective December 31, according to an [8-K filing](https://www.sec.gov/Archives/edgar/data/0001650164/000165016426000214/tost-20261028.htm?ref=bullished.co). The filing says her departure was not due to any disagreement over management, policies or practices. She will stay on as a non-executive adviser through July 2, 2027.

The board named Senno, currently senior vice president of finance, as CFO effective January 1, 2027\. He will receive a $460,000 base salary and a target bonus of 75% of salary. He joined Toast in 2022 after a stint in investor relations at Coupang.

Narang said Senno knows the Toast business thoroughly. Gomez called the job "the highlight of my professional career" and said she plans to take a break before her next chapter.

Toast is holding a conference call at 5:00 p.m. Eastern on Tuesday to discuss the results.

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — Toast, Inc. (TOST)](https://www.sec.gov/Archives/edgar/data/0001650164/000165016426000214/tost-20261028.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit tost-20260930xexhibit991.htm — Toast, Inc. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001650164/000165016426000214/tost-20260930xexhibit991.htm?ref=bullished.co) — SEC EDGAR

### More on Toast

- [Vanguard Capital Management Reports 5.07% Stake In Toast, A Day After Regulators Sued](https://www.bullished.co/vanguard-capital-management-reports-5-07-stake-in-toast-a-day-after-regulators-sued-6df4a206/)

[All Toast (TOST) coverage →](https://www.bullished.co/tag/tost/)